Intel, once the dominant leader in the chip industry, has been struggling in recent years.
In 2024, Intel posted a full-year net loss of $18.8 billion, and its market value shrank by more than half. Layoffs, factory sales, declining performance, and being removed from the Dow Jones Index — bad news has been piling up. Amid the rise of competitors like NVIDIA and AMD, Intel seems to be stuck in a quagmire.
At this critical moment, Intel’s board of directors made a significant decision: appointing Lip-Bu Tan as the new CEO, effective March 18.
The 65-year-old Chinese-American had resigned from Intel's board of directors in August 2024, but has now been urgently recalled. Following the news, Intel’s stock price surged 12% in after-hours trading, as the market seemed to glimpse a ray of hope.
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